EKF Danmarks Eksportkredit (hereinafter ‘EKF’) is the Danish export credit agency. EKF’s objective is to facilitate Danish companies’ internationalization opportunities and to create growth and jobs in Denmark. In that connection EKF among other things provides export loans. EKF is launching a call for tenders with the aim to conclude a contract with a supplier of a treasury management system. The purpose of the contract is to obtain a new treasury management system with implementation by the end of 2020 at the latest in order to ensure continued efficiency, automation and control within EKF’s treasury function.

As a lender of record, EKF facilitates funding for customers of Danish export on commercial terms. Export loans can be used on a standalone structure or as part of e.g. a project finance structure. Loans are available in most currencies. The loan structure follows the project with an availability period of 2-3 years and an amortization of 15-18 years. Loans can be front and back loaded or amortizing with equal instalment. Different structures, currencies, interest periods, index etc. demand a flexible system, which gives the opportunity to handle the registration and administration of the loan portfolio, monthly reporting, accounting and day-to-day settlements. For this purpose EKF uses a treasury management system.

The treasury management system should be a standard system hosted by the supplier. The supplier is responsible for the delivery of the system, maintenance, support and the daily operation of the system. Furthermore, the supplier shall upon request deliver consultancy services.

EKF is looking for a treasury management system which covers the following main functional areas, all described in Appendix 1:

(a) Transaction entry: concerns the functionality of entering deals in the treasury management system.

(b) Cash and liquidity management: covers the functionality of the managing of cash flows, bank accounts and ensuring sufficient funds (in the right locations and currencies) to meet the financial obligations of EKF.

(c) Settlement: involves, among other things, making treasury payments, reconciliation of treasury bank accounts, confirmation of deals and interest rate fixing of floating rate instruments.

(d) Treasury reporting and risk management: comprise functionality of handling exposures and all required treasury reports in the treasury management system.

(e) Accounting: deals with ongoing financial record keeping and hedge accounting for treasury activities.

(f) Interfaces: standardised and recurring exchanges of data between two or more separate solutions required for running the treasury tasks.

(g) IT: cover the treasury management systems delivery terms and assurance report coverage.

(h) Audit and security: ensures that the segregation of duties ought to exist within the treasury function.

The supplier will be responsible for the delivery of the system and will prepare a detailed delivery and implementation project plan. The system will be delivered in a project between the supplier and EKF where both parties will take active part. The deadline for implementation is December 2020, cf. Appendix 5.